Mobile Money Identifier (MMID) is a seven-digit number, issued by banks for effecting financial transactions through the user's mobile phone
The user's mobile number MMID are uniquely linked with his bank account number, and is one of the key inputs to facilitate fund transfer
Both the remitter and the beneficiary are required to have their MMIDs to effect a fund transfer through the mobile phone
A unique MMID and mobile number combination helps in identifying the beneficiary's details. A single MMID can be linked to a mobile number
Answer is Right!
Answer is Wrong!
The correct answer is: C. Both the remitter and the beneficiary are required to have their MMIDs to effect a fund transfer through the mobile phone.
A Mobile Money Identifier (MMID) is a seven-digit number, issued by banks for effecting financial transactions through the user’s mobile phone. The user’s mobile number and MMID are uniquely linked with his bank account number, and is one of the key inputs to facilitate fund transfer. A unique MMID and mobile number combination helps in identifying the beneficiary’s details. A single MMID can be linked to a mobile number.
Option A is true. Option B is true. Option D is true. Option C is false.